The big merchants like MasterCard and Visa are not willing to risk their international business model," said Chris Myklebust, state bank commissioner for Colorado, which in 2013 became the first state to legalize pot for recreational use.

Nasdaq:GLDB) today announced that the Federal Reserve Bank of Kansas City and the Office of the Kansas State Bank Commissioner have lifted their August 26, 2003, Written Agreement with the Company and Gold Bank, effective April 19, 2005.

Under the statute, Regulation of Business Practices for Consumer Protection, it states the attorney general's office cannot pursue unfair or deceptive claims that involve trade or commerce, since this falls under "the jurisdiction of the bank commissioner, the director of securities regulation, the insurance commissioner, the public utilities commission, the financial institutions and insurance regulators of other states or federal banking or securities regulators who possess the authority to regulate unfair or deceptive trade practices.

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